Volvo Cars launched its EX30 fully-electric small SUV on Wednesday with two battery options and a starting price of around 36,000 euros ($38,500), as carmakers compete with Tesla to make electric vehicles (EVs) more affordable.
The EX30, launched in Milan, is the smallest SUV to date from the Sweden-based manufacturer and follows the unveiling of the larger electric EX90The starting price compares with over 40,000 euros for Tesla's Model 3, the U.S. group's cheapest car. Tesla has cut prices several times this year to try to boost demand as competition heats up among EV makers.on EV price cuts as market demand was healthy.
"Customers get a premium fully electric SUV for a similar price to combustion engine-powered equivalents," it said. Cheaper and less resource-intensive LFP batteries are targeted at clients mostly travelling within cities or over shorter distances, helping to keep the car's entry price down, Volvo said.
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